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China Tech Stocks Slump as Nation Issues Draft Competition Rules

Tiger Newspress2021-08-17

(Aug 17) A wave of selling in China’s bellwether technology stocks continued for a fifth day, following Beijing’s latest moves to tighten its grip on the nation’s internet giants.

China tech stocks slump in premarket trading, after China’s market regulator issued draft rules banning unfair competition among the nation’s online platform operators.

Baidu Inc. fell more than 2% while Alibaba Group Holding Ltd. dropped by at least 3%. That followed Monday’sselloffin Chinese online game firms in the wake of state media criticism of the sector, which spilled over into U.S. trading overnight as the Securities and Exchange Commissionwarnedabout the risks of investing in Chinese stocks.

The wide-ranging proposals released Tuesday come after the tech-industry ministry launched a campaign last month aimed at rooting out a raft of problematic behavior. It follows moves by Beijing to rein in the country’s internet leaders in areas from antitrust to data security and ride-hailing.

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评论58

  • JL1982
    ·2021-08-17
    Buy some & keep! Save some bullet for year end too!
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  • Cancles
    ·2021-08-17
    These companies have strong fundamentals and are trading far below the valuations of US competitors who all have massive growth expectations built into their prices. Regulations are not bad if they promote fair competition. I'm buying.
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    • AlvinCWC
      Can’t agree more
      2021-08-18
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  • PCK
    ·2021-08-17
    [流泪]
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  • TANY0051
    ·2021-08-17
    [Sad] 
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  • Sctzilla
    ·2021-08-17
    As long as their fundamentals are sound, regulatory risk will need implementation effort to drive. 
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  • QArmieeQ
    ·2021-08-17
    Now we know what will be the future of China Tech will be. I still bullish but saving my bullet untill bottom out. Year end maybe?
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  • HENRYCSC
    ·2021-08-17
    [Sad] [Sad] 
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  • Steve81
    ·2021-08-17
    Never ending regulations
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  • Missys
    ·2021-08-17
    Sighhhh
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  • QPW
    ·2021-08-17
    KNN....Lim bei bo money liao
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  • whl0340
    ·2021-08-17
    Regulatory risk is difficult to price in. Just have to invest in caution   
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  • Deonc
    ·2021-08-17
    be patient
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  • DragonKC
    ·2021-08-17
    Sad days for China companies,  their products innovations have  spread throughout the world . But now have to take backward steps . Is technologies have no limits.  True. ???
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  • Gbear9
    ·2021-08-17
    I see. Like please 
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    • Piggys
      Ok done
      2021-09-07
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    • Piggys
      Sure done
      2021-09-07
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    • JeremyKok
      hi. please like and comment back. thank you.
      2021-08-19
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    查看更多 1 条评论
  • SanWangtikup
    ·2021-08-17
    [Facepalm] [Spurting] [Sad] 
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  • Val準凖
    ·2021-08-17
    Again 
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  • Ermmmmmm
    ·2021-08-17
    No money to buy already 
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    • ZEROHERO
      Don’t buy now
      2021-08-17
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  • StreetMoon
    ·2021-08-17
    really bad for good fundamentals company
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  • THong
    ·2021-08-17
    Time to accumulate again
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  • PaladinSir
    ·2021-08-17
    Maybe people will sell the rumor and buy on the news?
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